Market Development

Emerging Markets

149.     We will strengthen trade and investment co-operation with emerging markets and actively negotiate closer economic and trade arrangements with our trading partners, so as to expand market and business opportunities for our enterprises engaged in the trading of goods and services.  Apart from exploring the possibility of a free trade agreement with Chile, we will soon negotiate with Russia an agreement on investment promotion and protection.  We are also actively exploring the possibility of joining the trade and economic co-operation arrangements among East Asian economies, and strengthening our links with stock markets in the BRICS.

Mainland Market

150.     To help Hong Kong enterprises tap the Mainland market, we propose setting up a dedicated fund of $1 billion to encourage them to move up the value chain and build brands by leveraging Hong Kong's strengths in design.  We will seek to sign Supplement VIII to CEPA by the end of this year.  The Central Government has clearly indicated that the markets for Hong Kong's trade in services will be further opened up and has set a target to basically achieve full liberalisation of trade in services for Hong Kong by the end of the 12th Five-Year Plan period.  I have asked the Financial Secretary to follow up in earnest.

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